NSE lifts trading suspension on Thomas Wyatt, African Alliance

The Nigerian Stock Exchange (NSE) has notified the investing public that it has lifted the suspension earlier placed on the trading of Thomas Wyatt and African Alliance’s Shares.

A report from the local bourse confirmed the development at the weekend, noting that Thomas Wyatt Nigeria Plc, which was one of the companies suspended for non-submission of results has now submitted its audited accounts for the period ended 31 March, 2017 on 06 October, 2017.

“In view of the submission of the relevant accounts and our satisfaction that the accounts complied with our applicable rules, The Exchange has lifted the suspension of trading in the shares of Thomas Wyatt Nigeria Plc.”

The suspension of trading in the shares of Thomas Wyatt Nigeria Plc was lifted on 09 October, 2017.

Meanwhile, African Alliance was also one of 17 companies suspended in July for failing to file their relevant accounts within the stipulated period.

According to the report from The NSE, African Alliance Insurance Plc submitted its audited accounts for the period ended 31 December, 2016 on 17 July, 2017.

“The Public is hereby notified that pursuant to Rule 3.3, Rules for Filing of Accounts and Treatment of Default Filing, Rule book of The Exchange (Issuers’ Rules), which states that; “The suspension of trading in the issuer’s securities shall be lifted upon submission of the relevant accounts provided The Exchange is satisfied that the accounts comply with all applicable rules of The Exchange.

The Exchange shall thereafter also announce through the medium by which the public and the SEC was initially notified of the suspension, that the suspension has been lifted”.
The suspension of trading in the shares of African Alliance Insurance Plc was lifted 10 October 2017.
 

Adesola Afolabi